Facts
On July 5, 2006, the Debt Collection Office Zurich 4 notified X AG in liquidation of the estimated value of the property GBBl. y, Cat. No. z, Plan 10, commercial building on S. Street in Zurich, in the debt collection proceedings for the realization of a mortgage. The value was set by the expert at CHF 1,900,000. X AG in liquidation then requested a new appraisal, which the District Court granted. The expert proposed by the court, V., set the market value of the property at CHF 1,666,000. X AG in liquidation objected to this and requested that the market value be set at CHF 2,998,500. The District Court dismissed this request and confirmed the estimated value of CHF 1,666,000. X AG in liquidation then appealed to the Cantonal Court of Zurich, which also dismissed the appeal. X AG in liquidation filed a civil law appeal with the Federal Supreme Court, requesting that the decision of the Cantonal Court be overturned and a new expert opinion be ordered.
Considerations
3. Upon receipt of the request for realization, the debt collection officer orders the appraisal of the mortgaged property in order to determine the presumed market value. Any party involved can request a new appraisal by an expert upon advance payment of the costs. Disputes over the amount of the appraisal are finally decided by the cantonal supervisory authority. The Federal Supreme Court can only examine whether the relevant procedure has been observed and whether the cantonal supervisory authority has exceeded or abused its discretion.
4. The appraisal is intended to determine the presumed market value of the property, not the highest possible value. The expert…